United Airlines (UAL) Options Chain

NASDAQ: UALConsumer DiscretionaryAir Freight/Delivery ServicesUSD

107.46+0.015 (+0.01%)

At close: Oct 9, 4:00 PM ET · Delayed 15 min

Expiration date

Expiration: Jan 15, 2027
Days to expiration: 96
Share price: $107.46
Put/call ratio (OI): 1.34
Put/call ratio (volume): 1.20
ATM implied volatility: 47.4%
Expected move: ±$26.12
Open interest (C / P): 30.36K / 40.64K

UAL options summary

The UAL options chain for the January 15, 2027 expiration lists 51 call and 49 put contracts, with 96 days until expiration. Open interest stands at 30,359 calls and 40,636 puts, a put/call ratio of 1.34, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $105.00 strike is 47.4%, which implies the market expects a move of about ±$26.12 (24.3%) in United Airlines stock by expiration.

The most open interest sits at the $125.00 call (2.83K contracts) and the $42.50 put (4.96K contracts).

Summary generated from market data by MetaCap's automated system. Methodology

UAL options chain · January 15, 2027

UAL calls and puts by strike price. Shaded cells are in the money.
Calls							Puts
OI	Vol	IV	Last	Bid	Ask	Strike	Bid	Ask	Last	IV	Vol	OI
379	5	126.8%	82.65	80.80	84.40	25.00	0.00	0.15	0.05	116.4%	5	787
247	2	—	78.95	74.60	78.50	27.50	0.00	0.04	0.02	94.5%	8	172
263	1	—	60.59	71.35	75.25	30.00	0.00	0.00	0.02	50.0%	7	0
0	1	—	75.45	0.00	0.00	32.50	0.00	0.00	0.03	50.0%	10	0
1,075	2	244.6%	89.25	78.55	80.40	35.00	0.00	0.16	0.01	91.2%	1	999
7	2	—	53.05	56.50	59.20	37.50	0.00	0.19	0.04	87.7%	4	97
0	3	—	67.16	0.00	0.00	40.00	0.00	0.94	0.20	105.4%	10	234
3	4	—	48.96	51.50	54.70	42.50	0.00	0.50	0.03	89.4%	11	4,965
1,344	1	103.9%	64.19	61.90	64.60	45.00	0.00	0.85	0.05	92.1%	5	1,157
5	6	258.0%	52.25	72.45	75.30	47.50	0.00	0.16	0.11	67.6%	1	41
182	1	93.8%	57.85	57.00	59.60	50.00	0.00	0.37	0.08	71.5%	5	202
132	1	146.9%	82.67	57.95	62.00	52.50	0.03	0.11	0.09	59.0%	2	378
132	2	137.5%	80.35	55.40	59.20	55.00	0.00	0.43	0.11	64.9%	2	868
91	10	155.1%	79.98	55.45	59.35	57.50	0.00	0.00	1.57	25.0%	100	0
580	1	78.0%	53.09	47.20	49.80	60.00	0.00	0.53	0.13	59.3%	2	718
50	2	75.0%	53.02	44.80	47.40	62.50	0.14	0.29	0.25	53.7%	1	1,641
69	1	72.8%	45.00	42.40	45.10	65.00	0.01	0.37	0.26	55.3%	16	1,178
94	5	130.6%	64.35	46.55	49.50	67.50	0.07	0.47	0.41	54.1%	105	1,182
453	2	63.3%	46.82	36.85	40.55	70.00	0.23	0.57	0.52	52.6%	8	2,102
40	2	60.1%	38.07	34.50	38.05	72.50	0.27	0.71	0.65	51.5%	1	399
1,458	2	60.3%	40.51	32.15	36.15	75.00	0.41	0.90	0.85	50.7%	1	1,754
102	13	110.9%	44.05	37.60	40.35	77.50	0.75	1.15	1.02	50.1%	1	987
459	2	57.3%	28.23	28.20	31.25	80.00	0.99	1.40	1.34	49.0%	16	2,566
100	6	101.3%	40.60	33.30	35.55	82.50	1.16	2.20	1.70	52.4%	2	951
497	5	55.2%	32.50	24.25	26.90	85.00	1.60	2.01	2.20	46.7%	5	454
179	6	60.5%	28.40	21.25	24.55	87.50	2.04	2.61	2.49	47.2%	1	323
494	28	56.8%	19.85	19.30	22.25	90.00	2.50	3.00	2.90	45.6%	10	1,072
703	1	54.6%	18.11	17.50	20.20	92.50	3.15	4.05	3.87	47.7%	2	602
560	1	52.9%	16.00	15.85	18.30	95.00	3.25	4.50	4.50	45.6%	1	1,420
105	1	55.8%	21.30	14.80	17.35	97.50	4.15	5.45	5.47	45.8%	1	1,528
770	51	55.0%	15.60	13.20	15.80	100.00	5.45	5.90	5.73	43.0%	26	3,444
374	1	50.6%	10.50	10.80	12.30	105.00	6.55	8.45	8.01	44.2%	7	1,635
UAL $107.46
1,279	22	48.5%	9.15	8.80	9.60	110.00	10.20	11.40	10.40	45.2%	10	1,475
1,230	12	47.1%	6.71	6.90	7.40	115.00	12.10	14.15	11.30	43.5%	1	2,205
1,734	14	49.1%	5.12	5.25	6.25	120.00	15.90	17.85	13.76	44.6%	8	1,549
2,826	2	48.4%	3.50	3.90	4.80	125.00	19.60	21.60	18.30	44.5%	10	390
2,423	37	45.2%	3.19	2.74	3.20	130.00	0.00	0.00	22.25	—	29	0
1,346	3	49.5%	2.32	2.02	3.10	135.00	27.30	29.95	27.40	45.1%	1	117
1,937	50	45.2%	1.49	1.20	1.82	140.00	32.05	35.25	34.53	51.5%	10	774
1,489	1	45.8%	1.09	0.82	1.42	145.00	0.00	0.00	26.00	—	4	0
1,405	25	46.9%	0.84	0.64	1.17	150.00	41.95	44.00	44.04	49.6%	10	268
516	5	47.7%	2.00	0.31	0.95	155.00	0.00	0.00	32.73	—	6	0
1,046	2	46.2%	0.51	0.27	0.61	160.00	50.75	54.55	52.25	61.1%	46	0
1,030	21	46.8%	0.56	0.29	0.48	165.00	0.00	0.00	40.88	—	8	0
405	49	46.9%	0.46	0.00	0.36	170.00	64.05	66.35	68.25	72.6%	6	2
255	51	47.8%	0.34	0.00	0.30	175.00	66.25	69.50	59.25	69.7%	46	0
185	14	49.2%	0.30	0.00	0.27	180.00	64.60	68.40	53.80	—	10	0
72	1	53.4%	0.30	0.00	0.70	185.00	—	—	—	—	—	—
34	2	54.4%	0.30	0.00	0.31	190.00	74.50	78.50	56.55	—	—	0
71	2	53.8%	0.30	0.00	0.45	195.00	80.20	82.75	60.60	—	—	0
129	3	73.2%	0.20	0.05	2.22	200.00	—	—	—	—	—	—

In-the-money callsIn-the-money puts. IV = implied volatility, OI = open interest (contracts). Each contract covers 100 shares. Quotes delayed at least 15 minutes.

Frequently asked questions

What is the UAL put/call ratio?

For the January 15, 2027 expiration, the UAL put/call ratio based on open interest is 1.34 (40,636 puts vs 30,359 calls), and 1.20 based on today's volume. A ratio above 1 means more puts than calls.

What is UAL's implied volatility?

At-the-money implied volatility for UAL options expiring January 15, 2027 is about 47.4%, an annualized estimate of how much the market expects United Airlines stock to move.

How many UAL option expiration dates are there?

UAL has 16 listed expiration dates, from Oct 16, 2026 to Jan 19, 2029.

What does "in the money" mean?

A call is in the money when the strike price is below the current share price; a put is in the money when the strike is above it. In-the-money contracts have intrinsic value and are shaded in the table.